Human Capital Disclosures

Investments in human capital are essential for sustainable corporate growth and the creation of mid- to long-term corporate value. However, in many cases, such investments are recorded as expenses in financial statements and investors noted that relevant information is not necessarily disclosed.
 
　Although investments in human capital may reduce short-term profits, they contribute to medium- to long-term value creation and ultimately enhance shareholder returns. Therefore, human capital disclosure is critical to facilitating constructive dialogue between investors and corporate management. In this context, a research report and guidance on human capital disclosure have been published.

Links

• Strategy-focused Human Capital Disclosures (April 9, 2026) *¹
• Examples of Disclosure on the Alignment Between Business Strategy and Human Capital Management Strategy, and Related Metrics (To be announced) *²
• The Research Report, "Study on Global Investors' Focus Areas Regarding Human Capital Disclosure and Corporate Case Studies" (April 11, 2025)

Contact

Corporate Accounting and Disclosure Division, Policy and Markets Bureau, Financial Services Agency

Tel +81-(0)3-3506-6000 (ext. 3606)